Corporate Philanthropy Made Easy
In previous articles, I’ve touched on concepts related to creating mission-based organizations and I’ve highlighted companies that have built a culture of impact and sustainability into daily business practices. More than any defined monetary contribution, these cultural and community-based efforts are crucial to ensuring that the future of our world is as bright as the future of our businesses. However, for companies that are looking to create lasting impact through monetary contributions, apart from or in addition to more qualitative efforts, the Entrepreneurs Foundation of Colorado has created a program that makes that contribution effortless.
Since its first member exit in 2008, the Entrepreneurs Foundation of Colorado (EFCO) has provided more than $3.5 million in funding for non-profits located in the Front Range. The organization has also facilitated hundreds of hours of volunteer service. All of those funds and resources came from the financial commitment of its members. The members of EFCO are Front Range-area based companies that have committed to pledging a portion of their profits, equity, or time to EFCO and the non-profits that it supports. Well-known technology companies based in Boulder and beyond, like Techstars, Gnip, Rally, and Galvanize are all EFCO members that have committed to leveraging their financial success to build a better community in the Front Range.
In 2014, EFCO partnered with the Salesforce Foundation and Atlassian to launch the Pledge 1% program. “Pledge 1% leverages the EFCO model and scales it to enable startup companies worldwide to set aside equity or profits, commit volunteer time, and donate products to non-profits in their communities.” This program provides a simple, streamlined way for companies to make a monetary or resource-based contribution to the Front Range community. By handling the logistics of donation and volunteer coordination, EFCO makes the process of giving back transparent and effortless. For companies that have not historically focused on impact or sustainability or that do not have the resources for an in-house philanthropy team, the EFCO Pledge 1% program is a fantastic place to start.